ABB Ltd. Chief Executive Officer Joe Hogan is building on his deal-making credentials to bolster the Swiss engineering conglomerate with acquisitions, fueling earnings and eclipsing the performance of competitors.
ABB Ltd., the world’s largest supplier of power grids, said Ulrich Spiesshofer will become chief executive officer, an internal promotion of a manager who integrated the Swiss company’s largest acquisition.
ABB Ltd., the world’s largest maker of power-distribution equipment, agreed to buy Thomas & Betts Corp. for $3.9 billion to expand its North American distribution network and boost sales of low-voltage gear.
ABB Ltd., the world’s largest maker of power transformers, rose as much a 3.7 percent in Zurich trading as Chief Executive Officer Joe Hogan’s drive to trim costs helped to boost profitability in the first quarter.
ABB Ltd., the world’s largest maker of power-distribution equipment, fell the most in three months after reporting earnings that missed estimates and saying that tight pricing will weigh on profitability in the first quarter.
ABB Ltd ., the Swiss maker of factory robots and power transmission gear, agreed to buy Baldor Electric Co. for about $3.1 billion in cash to expand in the North American market for industrial motors and drives.